British prompt wholesale gas prices rose on Wednesday morning supported by colder weather and a drop in wind production.

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Oil prices jumped by more than 3% on Wednesday after reports that scientists have found an effective drug against China’s fast-spreading coronavirus, which has hit the world’s second-largest economy in recent weeks.

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European prompt power prices rose in the wholesale market on Tuesday as wind power supply dropped and demand increased, while distant contracts steadied after heavy falls on Monday.

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British prompt wholesale gas prices were mixed on Tuesday morning as higher supply weighed on gas for immediate delivery but lower forecast wind output supported the day-ahead.

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Oil prices clawed back ground on Tuesday, rising as much as 1% after the previous session’s slump, amid hopes for new output curbs from OPEC and its allies to offset any drop in fuel demand that might be triggered by China’s coronavirus outbreak.

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British wholesale gas prices fell on Monday morning, with Norwegian supply and liquefied natural gas (LNG) send-out rising amid milder weather.

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Brent crude prices fell on Monday to their lowest in more than a year, dragged down by worries about lower demand in China, the world’s largest oil importer, following a coronavirus outbreak there.

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Monday prices in the European wholesale market diverged in the main markets France and Germany on Friday in response to mixed weather patterns, while power futures slumped along with related fuels.

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British wholesale gas prices declined on Friday morning due to weaker demand and oversupply.

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Oil prices rose on Friday following sharp losses this week, as the World Health Organization (WHO) came out against travel and trade restrictions in declaring a global emergency over the spread of a coronavirus that originated in China last year.

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